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Norway

Norway's economy on the upswing

The state Central Bureau of Statistics (Statistisk sentralbyraa, SSB) released figures on Thursday indicating a rise in the business cycle next year. Growth is expected to continue throughout the year, tapering off slightly in 2005 and 2006, predict bureau economists....

Things light up for Norwegian industry

The record low interest rate has not, until now, provided Norwegian industry with any really big pay offs, but all…


Strengthening Norwegian Krone suggests interest rate cut imminent

The Norwegian Krone has greatly strengthened and has reached its highest level since June. This may force The Norwegian Central…

#bank#interest#interest rate


Interest rates cut to 50-year low

The Norwegian Central Bank (Norges Bank) reduced the sight deposit rate by 0.5 percentage points to 2.5 per cent effective…


Finance Credit co-founder indicted

Trond G Kristoffersen, who co-founded the collapsed Finance Credit firm, has been indicted for allegedly swindling Norwegian banks for NOK…


Central Banks indicate further cuts in interest rates

The Chief of the Norwegian Central Bank, Svein Gjedrem, says inflation in Norway this year will probably be lower than…

#bank#banks#inflation


Bank merger may hit the competition buffers

The Norwegian Competition Authority (NCA) has raised the real possibility of preventing a merger between finance giants DnB (Den norske…


National bank criticised for cutting interest rates

Head of Norway's national bank, Svein Gjedrem, is criticised after another severe cut in interest rates on Wednesday, 13 August…

#bank#inflation#interest


KPMG suits reach NOK 1.35 billion (USD193million) in aftermath...

Nordlandsbanken has joined the queue of institutions suing accounting giant KPMG for losses suffered in connection with the Finance Credit…

#bank#insurance#receivables


In the aftermath of the Finance Credit scandal, KPMG...

Bank 1 Oslo will sue accounting giant KPMG and state authorized accountant John Haukland for NOK 337 (USD 50.5) million…

#bank#banks#insurance


Norway logged the highest bankruptcy rate of Scandinavian countries...

Bankruptcy filings in Norway soared 41.3% during the first three months of 2003, compared to the same period last year.…


Bank sues KPMG over Finance Credit fraud scandal

A small bank in Norway is suing accounting giant KPMG after losing NOK 125 million on the bankruptcy of factor…

#bank#bankruptcy#banks

DnB swoops on bank hit by Finance Credit scandal

Norway's largest bank is seizing, as expected, a chance to take over Bodoe-based NordlandsBanken. Den norske Bank (DnB) said Friday…

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